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Gold/Mining/Energy : Global Thermoelectric - SOFC Fuel cells (GLE:TSE) -- Ignore unavailable to you. Want to Upgrade?

To: Stephen O who wrote (235)	2/3/1999 1:26:00 PM
From: speculatingvalue	Read Replies (1) \| Respond to of 6016

Attention Business Editors: Global Thermoelectric To Begin Development of New Heater for U.S. Army CALGARY, Feb. 3 /CNW/ - Global Thermoelectric Inc. (TSE: GLE) announced today the company will soon commence work under an extension of its contract to produce heaters for the crew compartment of military tracked vehicles for the U.S. Army. The extension, valued at about $450,000, is to cover the development of a prototype heater to be used to heat heavy transport trucks. ''This is not only a solid vote of confidence for our heater technology, it is an opportunity to extend our product line and enter a new, bigger market,'' said Jim Perry, President of the Calgary-based manufacturer. ''Military transport and supply trucks represent a much larger market than tracked vehicles. Although the amount of the contract extension is modest, its potential value is significant, as there is a need for improved heaters for both new transport vehicle applications and for retrofit of the current fleet.'' At present, Global is ramping up to produce about 215 model A-20 armoured vehicle diesel-fired air heaters a month for the U.S. Army's Tank Automotive and Armaments Command and for a major defence contractor. The new heater will be based on the successful A-20 design. Global anticipates that a prototype of the new heater could be produced by the end of 1999. In addition to developing and manufacturing personnel heaters for military vehicles, Global Thermoelectric Inc. is the world's largest supplier of thermoelectric power generation equipment for use in remote locations. The company is also becoming a leader in the development of solid oxide fuel cell power systems. %SEDAR: 00002531E -0- 02/03/1999 For further information: Jim Perry, President or Larry Kyle, Chief Financial Officer, (403) 236-5556 -------------------------------------------------------------------------- Release sent courtesy of Canada NewsWire Portfolio Email. To update your email portfolio, point your web browser here: portfolio.newswire.ca Please address any questions about your portfolio to cnw@newswire.ca E-Pix Now you can call the shots with E-Pix, Canada's first - and the only - corporate newswire database of client-controlled pictures and images. Developed in conjunction with, and managed by The Canadian Press, E-Pix offers free photos and images to all CP member newspapers. E-PIX combines state-of-the-art, electronic picture desk access with Internet -based software to allow the news media to download high-resolution images quickly and easily. Contact your local CNW Office to promote your company image. --------------------------------------------------------------------------